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NYSE: CMI Investor Notice: Deadline coming up on March 15, 2024 in the Lawsuit filed against Cummins Inc.

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A deadline is coming up on March 15, 2024 in the lawsuit filed for certain investors of Cummins Inc. (NYSE: CMI) over alleged securities laws violations by Cummins Inc.

 

Investors who purchased shares of Cummins Inc. (NYSE: CMI) have certain options and there are strict and short deadlines running. Deadline: March 15, 2024. NYSE: CMI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

 

Columbus, IN based Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. Cummins Inc. reported that its annual Total Revenue rose from over $24 billion in 2021 to over $28 billion in 2022, and that its Net Income increased from over $2.13 billion in 2021 to over $2.15 billion in 2022.

On December 22, 2023, Cummins Inc. issued a press release announcing that the Company has reached an agreement in principle with the U.S. Environmental Protection Agency, the California Air Resources Board (“CARB”), the Environmental and Natural Resources Division of the U.S. Department of Justice and the California Attorney General’s Office to resolve civil claims regarding the Company’s emissions certification and compliance process for certain engines primarily used in pick-up truck applications in the United States. Cummins Inc said it expects to record a charge of approximately $2.04 billion in the fourth quarter of 2023 to resolve these claims and related matters.

On the same day the United States Department of Justice released a press release entitled “Attorney General Merrick Garland Statement on the Agreement in Principle with Cummins to Settle Alleged Installation of Illegal Defeat Devices in Engines.” The press release stated that Cummins “allegedly installed defeat devices on 630,000 model year 2013 to 2019 RAM 2500 and 3500 pickup truck engines”, but then revealed that Cummins “also allegedly installed undisclosed auxiliary emission control devices on 330,000 model year 2019 to 2023 RAM 2500 and 3500 pickup truck engines”, revealing that the Company engaged in malfeasance for years after it disclosed the review of its compliance with emissions standards.

Shares of Cummins Inc. (NYSE: CMI) declined from $265.28 per share on August 01, 2023, to as low as $230.15 per share on January 18, 2024.

According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of purchasers of Cummins Inc. (NYSE: CMI) common shares between April 30, 2019 and December 21, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 30, 2019 and December 21, 2023, the defendants made materially false and/or misleading statements and/or failed to disclose that Contrary to its post-April 2019 Announcement assurances about its commitment to compliance, Cummins continued to produce engines with unlawful emission defeating devices from 2019 to 2023, that accordingly, Cummins understated its legal and regulatory risk, and overstated its commitment to environmental protection, and that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times

 

Those who purchased shares of Cummins Inc. (NYSE: CMI) have certain options and should contact the Shareholders Foundation.

 

Contact:

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone:  +1-(858)-779-1554
Fax:  +1-(858)-605-5739
mail@shareholdersfoundation.com

About:

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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